‘Cash is king’ might soon be a thing of the past if the latest move by the government to curb black money comes into play. The government is considering to make it mandatory to settle bills in luxury hotels with a credit card only. Still in its planning stages only bills above a certain value will attract this mandate. Hotels may not have to bear the brunt of the transaction costs of a credit card transaction as the government is also considering incentives to share these costs. Mr Anoop Pandey, Director of Rooms, Palladium Hotel say, “It’s too early to predict the outcome of the suggestion. However, we will continue to support the government in every possible if it assists them in curbing the flow of black money. Just like every new amendment / law / bill we need to look at the bigger picture, and in our case also alternative operational solutions for guests.”
Looking at the bigger picture it would be a matter of time when the only way to purchase a Rolex or a Louis Vuitton in India would be with a credit card.
[Via – Times-Of-India]